flipper wrote:
On Tue, 8 Sep 2009 14:37:38 -0500, "Ouroboros Rex"
wrote:

flipper wrote:
On Tue, 8 Sep 2009 11:13:54 -0500, "Ouroboros Rex"
wrote:

flipper wrote:
On Fri, 4 Sep 2009 09:38:14 -0500, "Ouroboros Rex"
wrote:

flipper wrote:
On Thu, 3 Sep 2009 16:29:51 -0500, "Ouroboros Rex"
wrote:

flipper wrote:
On Thu, 3 Sep 2009 09:47:56 -0500, "Ouroboros Rex"
wrote:

flipper wrote:
On Tue, 1 Sep 2009 13:05:41 -0500, "Ouroboros Rex"
wrote:

flipper wrote:
On Tue, 1 Sep 2009 10:39:32 -0500, "Ouroboros Rex"
wrote:

richard wrote:
Jim Thompson wrote:
http://www.washingtonexaminer.com/op...-54816897.html

...Jim Thompson

Jim,

The previous administration initiated the waste of
trillions of dollars on the invasion of Iraq.
Your taxes up in smoke.

Each administration has its own way of blowing your
cash.

**** the lot of them - but Obama's way is arguably more
benign.

Richard

Not to mention the fact that the pension funds need
bailed out because of the republican-generated subprime
mortgage crisis's effect on the markets. Examiner.com,
being a worthless "social networking" site, probably
won't tell us that.


I'll give you credit for one thing: you're consistently
clueless.

Poor floppy. Always with the handwaving, never with the
proof. lol

Further proof you're not only consistently clueless but
willfully clueless as I've not only explained it but I
explained it to YOU.

Crazy redefinition xplanations from a serial liar are not
proof.

You're inability to grasp reality doesn't make reality
'crazy', it just shows you to be crazy.

Here's a small dose of it. When you set up a system, through
Fannie Mae and Freddie Mac, to 'give' no ask loans to people
who can't afford the loans then you are eventually going to
have foreclosures.

Yep. See George Bush's American Dream Downpayment Initiative
of 2003.

Bush didn't create Fannie Mae and Freddie Mac nor did he put the
Clinton cronies in there that bankrupted the place.

Sorry, he and his republican buddies enabled 40% of their
business to be no-down-payment loans.

False.

The Bush administration tried multiple times to improve
regulations on Fannie Mae and Freddie Mac but were blocked every
time by the likes of Barney Frank, Chris Dodd and friends with
Barney Frank explaining "I see no need to fix what isn't broke" a
few months before Fannie Mae went belly up in a flurry of fraud
investigations leading to the ouster of Franklin Raines, a
Clinton crony who learned how to cook books as his White House
Budget Director.

Clinton put in Raines as head of Fannie Mae in 1998 and by 2000 he
was burning the barn with sub-prime loans. By 2002 alarms bells
were going off.

BUSINESS WEEK MAGAZINE, MARCH 11, 2002

"In part, the aggressive tactics of mortgage lenders have been
made possible by the automated underwriting systems developed in
recent years by the Federal National Mortgage Association (Fannie
Mae).. The new underwriting systems being used by Fannie Mae .
allow for higher loan-to-income ratios than in the past to
encourage home buying. .but the relaxed ratios could pose serious
problems in the future. For one, there is already evidence that
defaults are rising. For Fannie Mae . which only began expanding
into subprime mortgages two years ago, deteriorating credit
quality may be a new and unpleasant experience. "

-----------------

This is also linked to Countrywide who was providing 'special
deals' for "friends of Angelo" or FoA, standing for Friends of
Countrywide Chief Executive Angelo Mozilo, including Raines,
James Johnson (a Democratic party activist and adviser to Sen.
Barack Obama who was named to a panel to help choose Obama's Vice
Presidential running mate), Democrat Chairman of the Senate
Banking Committee, Senator Chris Dodd, and the chairman of the
Senate Budget Committee, Democrat Kent Conrad.

And you think these people are going to 'fix' it, eh? Well,
they've certainly been in on 'the fix',

And when Fannie Mae and Freddie Mac, per their government
charter, repackage the bad loans and sell them off as
guaranteed securities then you are eventually going to have a
market flooded with 'toxic securities' because the 'no ask'
loans they instructed everyone to make were crap to begin
with.

Yep. See fired McCain campaign co-chair Phil Gramm's
Commodities Futures Modernization Act of 2000, and his
Financial Services Modernization Act of 1999.

Institutions that *did* take advantage of those acts were the
ones that did *not* need 'bailing out'.

A pathetic lie.

Supercilious ad hominem from the grossly ignorant.

Another pathetic lie.

Supercilious ad hominem from the grossly ignorant.

It's the ones who did not, I.E.
worked the way you want, that did.

A pathetic lie.

Supercilious ad hominem from the grossly ignorant.

Another pathetic lie.

Supercilious ad hominem from the grossly ignorant.

Of course, being a good, obedient, mind numbed robot you don't
give a flying fig what the real problem is.

The real problem

The facts show otherwise.

Another pathetic lie.

Supercilious ad hominem from the grossly ignorant.

was the laws I mentioned from Phil Gramm that
intentionally removed the derivatives market from any and all
regulation

It did not remove "any and all regulation."

Another pathetic lie.

Supercilious ad hominem from the grossly ignorant.

and
allowed banks to become brokers.

It allowed diversification and the only reason it wasn't allowed
before is the two regulatory agencies got into a turf battle over
who would be 'king of the hill' and in a lover's murder pack
decided if one can't have it neither would get it. The bill simply
resolved the lover's dispute.

I've previously pasted Clinton's ringing endorsement of it so I
won't bother again because noting sticks in your vacuum packed
head anyway.

And there would have been no problem with 'derivatives' if the
underlying 'guaranteed' assets from 'government backed' Fannie Mae
and Freddie Mac hadn't been crap to begin with because our liberal
friends insisted we make 'no ask, no down, deferred interest'
loans to people who couldn't pay the loans.

Another pathetic lie.

Supercilious ad hominem from the grossly ignorant.

You are the one directly lying about this issue. You will, of
course, produce nothing authoritative to back up your k00kp00p.
You never do.

I've already done so, and multiple times, but, being the obedient
mind numbed robot you are, you're deaf, dumb and blind to reality.

Another pathetic lie.

Supercilious ad hominem from the grossly ignorant.

And just what kind of 'authority' do you need to grasp the concept
that people who can't afford a loan are not going to be able to
pay it back?

Strawman.

LOL

And that kind of stupidity is how we get left wing loony tunes in
Congress and Fannie Mae making 'no ask' loans to people who can't
pay them back and then they wonder what went wrong.

In other words, you can't defend any claim you made. Thanks.

No, "in other words" only leftist loony tunes and idiots like you
can't figure out that loans to people who can't repay don't get
repaid.

Sorry, no defense = no response.


" Institutions that *did* take advantage of those acts were the ones
that did *not* need 'bailing out'.

A pathetic lie.


It's the ones who did not, I.E.
worked the way you want, that did.

A pathetic lie.

...You are the one directly lying about this issue. You will, of course,
produce nothing authoritative to back up your k00kp00p. You never do."

Prediction validated. Have a nice life!